Dunedin-founded construction company Arrow International has landed one of the largest commercial building projects of the Christchurch rebuild.
While the contract price is confidential, commercial property sources have estimated the multiple five-storey block being built for site owners the Yeo family's Awly Investments in Durham St is more than $40 million. Construction of the 17,000sq m building starts this month.
It is expected to employ more than 200 people and be completed by mid-2015.
Arrow, whose largest project to date has been Dunedin's $220 million Forsyth Barr Stadium, has 10 branches around the country and one in Melbourne, and with the Christchurch rebuild gaining impetus, now employs more than 230 staff there.
Arrow's chief executive, Mark Hopwood, said the Awly Building would have three separate blocks of ''premium'' retail and office space, surrounded by cycle parks, sheltered courtyards and 123 on-site car parks, targeting tenants from the retail, business and hospitality sectors.
''The design is inspirational and the construction technologies behind the build are leading edge. That applies to both seismic and environmental elements of the complex.''
The 4068sq m site, which used to be home to Amuri Courts and URS House, is on the sought-after western bank of the Avon River, extending from Armagh St to Gloucester St and bound by Durham St to the west. Its neighbours include the Convention Centre, Avon River Park and the cultural and performing arts precincts.
Mr Hopwood said the complex would have many green features and was designed to achieve a five-star rating under the New Zealand Green Building Council scheme.
The blocks included mixed-use commercial and the ground floor provided space for nine commercial units, including restaurants and cafes, which opened on to a courtyard.
